These are the 19 countries with the highest tax rates in the world
by Mike Bird
The World Economic Forum's latest Global Competitiveness Report was released recently, offering an annual update on the state of the world's economies.
The WEF uses a bundle of indicators — ranging from how easy it is to open a business, to how likely public officials are to take a bribe. One of the ones they use is the country's tax burden, with higher scores indicating less competitiveness.
1. Argentina: 137.3%. Astonishingly, Argentina's total tax rate is judged to be over 100% of corporate profits. The country's turnover tax alone eats up nearly 90%, before taxes on salaries and financial transactions are taken into account.
2. Bolivia: 83.7%. Bolivia's 3% tax on transactions wipes out 60% of company profits, even before other taxes are taken into account. But it still loses out to one other Latin American country.
3. Tajikistan: 80.9%. The central Asian country has a 2% statutory tax rate on all turnover, which takes out a significant chunk of a company's average profits.
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